Economics

Summary

Global markets plunged after Trump’s sweeping tariffs, ranging from 10% to 50%, wiped $2 trillion off Wall Street and sparked fears of a U.S. recession.

The S&P 500 fell 4.3%, and the Nasdaq dropped 5.1%, with major firms like Apple and Microsoft hit hard.

Poor nations face the steepest tariffs: Cambodia at 49%, Vietnam at 46%, Myanmar at 44%.

The U.S. dollar dropped, oil prices fell 7%, and economists warned of a global downturn. Allies condemned the move as “brutal,” with EU retaliation expected mid-April.